(MENAFN- Comserve) Shibuya-ku, Tokyo, Japan, Japan, Oct 04, 2021, 07:56 /Comserve / -- Americas Polypropylene (PP) Films market With Top Countries Data, industry Analysis , Size, Share, Revenue, Prominent Players, Developing Technologies, Tendencies and Forecast
The America PP film market was valued at USD 6.28 billion in 2019, and it is expected to reach USD 9.45 billion by 2025, registering a CAGR of 7.2 % during the forecast period (2020-2025). The PP films typically find their usage across primary and secondary packaging across food, pharma, and industrial, amongst others.
- The regional market is witnessing strategic collaborations to boost their regional as well as domestic market presence. For instance, in November 2019, GELPAC, a Canadian provider of high-performance packaging solutions, strategically acquired WBC Extrusion Products, Inc., an American specialty manufacturer of single-use blown polymer films for the food, industrial, automotive, medical and commercial packaging industries.
- The demand for biaxially-oriented polypropylene (BOPP) film is expected to grow over the forecasted period, despite pressure on plastics and few domestic recycling options for PP film. Hence, this is expected to provide further opportunities for the market players to gain maximum market traction.
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Key Market Trends
The Food Industry is Expected to Exhibit Maximum Adoption
- The food industry is expected to hold the maximum share, majorly the organic packaged food and beverage segment, which comprises 47.4% to 52.6% of the USD 93.2 million value of the total in Brazil, according to Organic trade association.
- Food processing and packaging industries spend approximately 15% of the total variable costs on packaging materials. Industrial processing of food reduced consumption of animal protein, importation of raw materials and ingredients to be converted in the American countries, and scarcity of time to select/prepare food from fresh ingredients have enhanced innovation in food packaging.
- The food packaging industry in American countries, demands polymer films possessing a defined barrier against permeation of gases, moisture, and flavor. The films based on metalized BOPP function with excellent barrier properties and can be used to overwrap food products.
- CPP films are majorly used in packaging of food wraps, Candy, Confectionery, and bakery product packaging in the food industry due to features such as excellent heat seal strength, high puncture, and tear resistance, high yield per unit area and low specific weight, excellent moisture barrier and high transparency.
- In the food packaging industry, specific CPP films are developed for niche applications. For instance, sterilizable CPP films are used for confectionery, bakery, dry, and processed food products. Also, CPP films are designed to provide high-speed packaging that meets the faster throughput of the packaging line. Metallic and General CPP film types are currently used in the Food Packaging Industry.
United States Expected to Dominate the Market
- The United States is expected to dominate the market, as several vendors of BOPP films in the United States are adjusting their product portfolios to address the increasing requirement for consumer-friendly packaging solutions in the region. BOPP films that provide transparency in product packaging help customers to quickly examine the product, which is fueling the growth of the market in the region.
- Additionally, the rising demand for packaged food in the region is likely to drive the growth of the market, owing to the rising shelf-life of food products and the need to maintain product quality and sustainability.
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- Retail outlets are the largest revenue-generating medium for food products in the United States. Flexible packaging products, such as BOPP films, have emerged as the preferred form of packaging in the region, due to their versatility, custom qualities, efficiency in conserving resources, and sustainability. They also offer consumers convenient shopping experience, as they are lightweight, and thus, minimize the effort required for carrying the products.
- The increasing penetration and growing convenience towards food, beverage, pharmaceutical, Industrial, amongst others, is driving the market for CPP films in the country as CPP films are a cost-effective packaging option and facilitate an increase in the shelf life of products with their high moisture barrier property.
Competitive Landscape
The competitive landscape of the Americas PP Films Market is expected to move towards moderate fragmentation, as the region houses multiple vendors across all formats. With the presence of Toray, Oben Holding, the market has been observing multiple investments for local as well as global players. Further, the market players are witnessing strategic collaborations and acquisitions, as Latin America is witnessing significant investments in BOPP manufacturing, as the enterprises' propensity to produce locally is increasing. Also, significant developments such as new product launches is expected to boost the market presence of the market players.
1 INTRODUCTION
1.1 Study Assumptions & Market Definition
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Supply Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers/Consumers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitute Products
4.5.5 Intensity of Competitive Rivalry
4.6 Impact of Covid-19 on the Polypropylene Films Industry
5 MARKET SEGMENTATION - AMERICAS BOPP FILMS MARKET
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